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8.B. - Page 48
<br /> Table 3
<br /> 2012-2013 Special Tax Levy by Property Owner
<br /> Percentage
<br /> Number Taxable Maximum of Total
<br /> of Building Possible Special Tax 2012/2013
<br /> Taxable Square Annual Levy Special
<br /> Property Owner«� Parcels«� Footage«� Special Tax«� 2012/2013 Tax Levy
<br /> WESTPORT OFFICE PARK LLC 3 967,680.0 $ 224,501.76 $202,384.28 22.31%
<br /> ELECTRONIC ARTS INC 3 742,003.0 172,144.70 155,185.34 1711
<br /> SPK-TOWERS @ SHORES CENTER LLC 2 340,000.0 78,880.00 71,108.88 7.84
<br /> PLCP SF BAY HOTEL OWNERCO LLC 1 280,268.0 65,02218 58,616.32 6.46
<br /> METROPOLITAN LIFE INS CO 1 239,400.0 55,540.80 50,069.02 5.52
<br /> CA-SHOREBREEZE OFFICE LTD PTP 2 220,000.0 51,040.00 46,011.64 5.08
<br /> SPK-TWIN DOLPHIN PLAZA LLC 1 200,000.0 46,400.00 41,828.76 4.61
<br /> CA 333 TWIN DOLPHIN OFFICE L P 1 183,000.0 42,456.00 38,273.32 4.22
<br /> PROVIDENT CENTRAL CREDIT UNION 1 165,000.0 38,280.00 34,508.72 3.80
<br /> REALTY ASSOCIATES FUND VII LP 2 134,989.0 31,317.45 28,23210 311
<br /> SHAPELL INDUSTRIES INC 1 123,961.0 28,758.95 25,925.68 2.86
<br /> RNM TWIN DOLPHIN L P 2 121,194.0 28,117.01 25,346.96 2.80
<br /> BAY CLUB PENINSULA LLC 1 100,088.0 23,220.42 20,932.78 2.31
<br /> 101 REDWOOD SHORES LLC 1 100,000.0 23,200.00 20,914.38 2.30
<br /> AG PREMIA REDWOOD SHORES LLC 1 88,560.0 20,545.92 18,521.76 2.04
<br /> HINES VAF NO CAL PROPERTIES L P 1 75,ll4.0 17,426.45 15,709.62 1.73
<br /> LBA REALTY FUND III COMPANY I LLC 1 62,500.0 14,500.00 13,071.48 1.44
<br /> REDWOOD SUITES LLC 1 56,692.0 13,152.54 ll,856.78 1.31
<br /> SHP WESTSHORE LLC 23 49,100.7 ll,391.38 10,268.90 112
<br /> 350 MARINE PARKWAY LLC 1 33,800.0 7,841.60 7,069.06 0.78
<br /> BRIDGE PARK CENTER LP 1 25,186.0 5,84315 5,267.48 0.58
<br /> MAI SU WUAN TR 1 16,754.0 3,886.93 3,503.98 0.39
<br /> REDWOOD SHORES ASSOCIATES LLC 1 8,052.0 1,868.06 1,684.02 019
<br /> VERTEX MANAGEMENT INC 1 2,055.9 476.96 429.96 0.05
<br /> SAN MATEO CO DENTAL SOCIETY 1 1,843.3 427.65 385.52 0.04
<br /> Totals: 55 4,337,241.0 $1,006,239.91 $907,106.74 100.00%
<br /> (1) From Table 1.
<br /> (2) Taxable Building Square Footage multiplied by applicable Maximum Annual Special Tax Rate for the
<br /> respective Taxable Parcels.
<br /> Source: Willdan Financial Services.
<br /> The amount of the Fiscal Year 2012-2013 Special Tax levy is based on the debt service that was
<br /> projected to be due on the Prior Bonds on March 1, 2013 and September 1, 2013. The Prior
<br /> Bonds will be defeased on the date of issuance of the Bonds and will be fully redeemed by
<br /> March 1, 2013 (see "PLAN OF REFUNDING—Redemption of Prior Bonds"). Accordingly, it
<br /> is expected that future Special Tax levies on the Taxable Parcels in the District will be
<br /> approximately twelve percent (12%) lower (see, e.g., Table 7 under "THE DISTRICT—
<br /> Projected Debt Service Coverage" below).
<br /> Value-to-Burden Ratio
<br /> No Appraisal of Property in the District. The City has not commissioned an appraisal
<br /> of the Taxable Parcels in the District in connection with the issuance of the Bonds. Therefore,
<br /> the valuation of the Taxable Parcels in the District has been estimated for the purposes of the
<br /> Act, and set forth in this Official Statement, based on the County Assessor's Fiscal Year 2012-
<br /> 13 assessed values.
<br /> Assessed Valuation. The valuation of real property in the City is established by the
<br /> County Assessor. Assessed valuations are reported at 100% of the full cash value of the
<br /> property, as defined in Article XIIIA of the California Constitution. Article XIIIA of the
<br /> California Constitution defines "full cash value" as the appraised value as of March 1, 1975,
<br /> plus adjustments not to exceed 2% per year to reflect inflation, and requires assessment of
<br /> "full cash value" upon change of ownership or new construction. Accordingly, the gross
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